MYMETAL: China Al price refreshes 3-y high on low stocks
Nov 24, 2020 15:30
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China’s domestic aluminium prices strengthened further over November 16-20, refreshing the three-year highs, as stocks of primary aluminium ingots in the spot market had been persistently hovering low, according to the latest weekly survey by Mymetal, Mysteel’s nonferrous metals data collection arm.
By November 20, China’s national price of 99.7% aluminum ingot as assessed at Yuan 15,890/tonne (2,412/t) including delivery and 13% VAT, up another Yuan 282/t on week or having hit a new three-year high.
“China’s higher aluminium prices were very largely due to the limited availability of this primary metal in